Daily Financial Markets Report | Wednesday, 15 July 2015

sacci-logoDaily Financial Markets Report sources information from Business Day, Reuters, JSE Ltd and others.

Highlights

 U.S. stocks steadily drifted higher for a fourth consecutive session of gains Tuesday as investors took stock of disappointing June retail sales numbers and how the data factor into the Federal Reserve’s plans for a rate hike. European stocks ended higher Tuesday, keeping pace with positive moves in oil and energy shares, as investors looked ahead to the next steps for Greece’s bailout deal. Hong Kong stocks edged higher, while Shanghai shares moved solidly lower in early Wednesday trading, as the markets largely shrugged off Chinese economic data that printed a little above expectations.

 Spot gold is currently trading at US$ 1 153.30/oz. and platinum at US$ 1 029.60/oz. Brent crude oil is currently trading at US$ 58.65 per barrel.

 The US dollar is currently trading at 1.09 to the euro; 1.56 to the pound and will buy 123.51 Japanese Yen or 12.36 South African Rand.

 International Markets

International

U.S. stocks steadily drifted higher for a fourth consecutive session of gains Tuesday as investors took stock of disappointing June retail sales numbers and how the data factor into the Federal Reserve’s plans for a rate hike. European stocks ended higher Tuesday, keeping pace with positive moves in oil and energy shares, as investors looked ahead to the next steps for Greece’s bailout deal. Hong Kong stocks edged higher, while Shanghai shares moved solidly lower in early Wednesday trading, as the markets largely shrugged off Chinese economic data that printed a little above expectations.

The S&P 500 added 9.35 points, or 0.5%, to close at 2 108.95. The Dow Jones Industrial Average gained 75.90 points, or 0.4%, to close at 18 053.58. The Nasdaq Composite moved up 33.38 points or 0.7% to finish at 5 104.89.

The Stoxx Europe 600 reversed course and ended up 0.5% at 398.30, its highest close since June 23, according to FactSet data. The DAX 30 swung up 0.3% to 11 516.90. In Paris, the CAC 40 rose 0.7% to 5 032.47, its highest close since June 26. The U.K.’s FTSE 100 rose 0.2% to 6 753.75.

The Shanghai Composite was down 2.4% and the Hang Seng Index was down 0.4%.

The US dollar is currently trading at 1.09 to the euro; 1.56 to the pound and will buy 123.51 Japanese Yen or 12.36 South African Rand.

Domestic markets

On Tuesday the All-share index was 0.39% lower at 52 271 points, while the Top 40-index was 0.48% softer at 46 685. Some of the losses can be attributed to profit-taking.

Commodities

Spot gold is currently trading at US$ 1 153.30/oz. and platinum at US$ 1 029.60/oz. Brent crude oil is currently trading at US$ 58.65 per barrel.

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